CNH Industrial (CNHI) Downgraded to Neutral at Bank of America

Bank of America lowered shares of CNH Industrial (NYSE:CNHI) from a buy rating to a neutral rating in a research note published on Wednesday, The Fly reports. They currently have $12.50 price target on the stock, down from their previous price target of $14.00.

A number of other research firms have also recently weighed in on CNHI. Stifel Nicolaus cut their price objective on shares of CNH Industrial from $14.00 to $13.00 and set a hold rating for the company in a report on Monday, July 30th. Zacks Investment Research raised shares of CNH Industrial from a sell rating to a hold rating and set a $13.00 price objective for the company in a report on Monday, July 30th. Seaport Global Securities reaffirmed a buy rating and issued a $15.00 price objective on shares of CNH Industrial in a report on Monday, July 23rd. ValuEngine raised shares of CNH Industrial from a strong sell rating to a sell rating in a report on Wednesday, July 25th. Finally, TheStreet raised shares of CNH Industrial from a d+ rating to a c rating in a report on Friday, August 17th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $28.70.

CNHI traded down $0.37 on Wednesday, reaching $10.68. The stock had a trading volume of 85,303 shares, compared to its average volume of 1,817,358. CNH Industrial has a 12-month low of $10.09 and a 12-month high of $15.65. The company has a debt-to-equity ratio of 5.32, a quick ratio of 3.92 and a current ratio of 5.06. The stock has a market capitalization of $16.37 billion, a price-to-earnings ratio of 22.83 and a beta of 1.06.

CNH Industrial (NYSE:CNHI) last released its quarterly earnings data on Thursday, July 26th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. CNH Industrial had a net margin of 2.03% and a return on equity of 20.95%. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter in the previous year, the company earned $0.19 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts forecast that CNH Industrial will post 0.73 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Capital Advisors LLC acquired a new stake in shares of CNH Industrial in the second quarter valued at about $171,000. HPM Partners LLC grew its position in shares of CNH Industrial by 72.1% in the second quarter. HPM Partners LLC now owns 17,955 shares of the company’s stock valued at $189,000 after purchasing an additional 7,520 shares during the period. First Trust Advisors LP grew its position in shares of CNH Industrial by 31.9% in the second quarter. First Trust Advisors LP now owns 23,426 shares of the company’s stock valued at $247,000 after purchasing an additional 5,671 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of CNH Industrial by 24.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 23,294 shares of the company’s stock valued at $248,000 after purchasing an additional 4,623 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in shares of CNH Industrial in the second quarter valued at about $315,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

CNH Industrial Company Profile

CNH Industrial N.V. designs, produces, markets, sells, and finances agricultural and construction equipment, trucks, commercial vehicles, and buses worldwide. The company operates in five segments: Agricultural Equipment, Construction Equipment, Commercial Vehicles, Powertrain, and Financial Services.

Further Reading: Leveraged Buyout (LBO) Explained

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